Benefits Summary Unrepresented Monthly and Bi-weekly Staff Visiting Faculty Effective January 1, 2018

Transcription

1 Benefits Summary Unrepresented Monthly and Bi-weekly Staff Visiting Faculty Effective January 1, 2018 The following is a summary of employee benefits based on full-time employment and regular part-time employment for employees appointed at 75% FTE or greater. You will make your benefits elections (excluding retirement) utilizing your online Employee Self Service (ESS) tool. You will be able to access ESS effective on your date of hire. Coverage will begin on the first day of the month after 28 days of employment have been completed. For detailed information and interpretation of any benefits, refer to the appropriate policy and procedure, collective bargaining agreement, or contact the Human Resources Department at or Benefits@UC.edu. This document provides an overview of benefits available to University of Cincinnati employees. For detailed information, refer to university rules or the plan documents which govern the plans. In the case of any conflict between this document the official document, the plan document governs.

2 RETIREMENT PLAN OPTIONS Ohio Public Employees Retirement System (OPERS) This plan offers you a choice of a defined benefit plan, defined contribution plan, and a combined plan. Survivorship benefits may be available in the event of death. Should you separate from UC, you may request a refund or roll-over of your accumulated contributions. You will not contribute to Social Security as a public employee in the State of Ohio. You and the university will each contribute 1.45% of your income to Medicare. Your contribution is 10% of your pre-tax eligible earnings. The university contributes 14% of eligible pay on your behalf. For more information, refer to www. opers.org. State Teachers Retirement System (STRS) (Faculty only) This plan offers you a choice of a defined benefit plan, defined contribution plan and a combined plan. Survivorship benefits may be available in the event of death. Should you separate from UC, you may request a refund or roll-over of your accumulated contributions. You will not contribute to Social Security as a public employee in the State of Ohio. You and the university will each contribute 1.45% of your income to Medicare. Your contribution is 14% of your pre-tax eligible earnings. The university contributes 14% of eligible pay on your behalf. For more information, refer to www. strsoh.org. Ohio Alternative Retirement Plan (ARP) (100% FTE required) This plan is what is known as a defined contribution plan. You are considered vested immediately upon enrolling in the ARP. In the event of death, your beneficiary (ies) is eligible to receive your account balance. Should you separate from UC, you may request a refund or roll-over of your accumulated contributions. You will not contribute to Social Security as a public employee in the State of Ohio. You and the university will each contribute 1.45% of your income to Medicare. Your contribution is 10% of your pre-tax eligible earnings (faculty: 14%). Faculty: Effective July 1, 2017 the university contributes 9.53% of eligible pay on your behalf to the ARP and 4.47% to STRS. Staff: The university contributes 11.56% of eligible pay on your behalf to the ARP and 2.44% to OPERS. Voluntary Retirement Plans 403(b) and 457 You can supplement your retirement savings by contributing to the university s 403(b) and/or the Ohio Deferred Compensation Plan (457). For more information, refer to You can contribute the maximum allowed by law.

3 MEDICAL PLAN OPTIONS Spousal/ Domestic Partner Surcharge of $200 per month applies if spouse or domestic partner is eligible for medical coverage through his/her employer but chooses not to enroll. Waive coverage You may elect to waive coverage. If you elect this option, you will receive a benefit credit. The credit is not available for dually employed UC spouses/partners. You will be taxed on the benefit credit if you elect to waive coverage. PPO The PPO plan includes network and non-network providers. If you utilize nonnetwork providers your costs will be higher. The Plan features a deductible and 85% co-insurance after the deductible is met. Preventive care is covered at 100% without the need to meet a deductible. You will contribute a portion of the cost for this plan on a pre-tax basis. To obtain information on network providers and the drug formulary, log on to Search using network name Blue Access PPO for both medical plans. Health Savings Account/HDHP The HDHP includes network and non-network providers. If you utilize non-network providers, your costs will be higher. The Plan features a deductible and 90% co-insurance after the deductible is met. Preventive care is covered without the need to meet a deductible. The university contributes to the Health Savings Account based upon the employee s annual base pay. Employees may contribute to the HSA also. Total HSA contributions cannot exceed the IRS annual maximum. You will contribute a portion of the cost for this plan on a pre-tax basis. To obtain information on network providers and the drug formulary, log on to Search using network name Blue Access PPO for both medical plans.

4 DENTAL PLAN OPTIONS Waive coverage You may elect to waive coverage. If you elect this option, you will receive a benefit credit. The credit is not available for dually employed UC spouses/partners. You will be taxed on the benefit credit if you elect to waive coverage. Basic You may utilize any dental care provider you choose. The plan has an annual deductible. You share in the cost of eligible expenses after meeting the Plan s deductible. This plan does not offer orthodontia coverage. You have the option of choosing network and/or non-network providers. If you utilize non-network providers, your costs will be higher. There is no monthly premium for the employee and covered family members. To obtain information on network providers, log on to Search using network name Dental Complete for all dental plans. Ortho Dental You may utilize any dental care provider you choose. The plan has an annual deductible. You share in the cost of eligible expenses after meeting the Plan s deductible. This plan includes orthodontia coverage for dependent children 19 at the time treatment commences and a lifetime benefit maximum. You have the option of choosing network and/or non-network providers. If you utilize non-network providers, your costs will be higher. You will contribute a portion of the cost for this plan on a pre-tax basis. High Dental You may utilize any dental care provider you choose. The plan has an annual deductible. You share in the cost of eligible expenses after meeting the Plan s deductible. This plan does not offer orthodontia coverage. You have the option of choosing network and/or non-network providers. If you utilize non-network providers, your costs will be higher. You will contribute a portion of the cost for this plan on a pre-tax basis. High Ortho You may utilize any dental care provider you choose. The plan has an annual deductible. You share in the cost of eligible expenses after meeting the Plan s deductible. This plan includes orthodontia coverage for dependent children 19 at the time treatment commences and a lifetime benefit maximum. You have the option of choosing network and/or non-network providers. If you utilize non-network providers, your costs will be higher. You will contribute a portion of the cost for this plan on a pre-tax basis.

5 FLEXIBLE SPENDING ACCOUNTS Health Care Flexible Spending Account This plan allows you to pay for eligible health care expenses that are not fully covered or are not eligible for coverage under your medical or dental plans. You may carry over any unused balance to the following plan year. You have until 02/28 of the subsequent year to use up your prior year s account balance. You are not eligible to enroll in this plan if you are enrolled in the HDHP and Health Savings Account. The minimum contribution is $120/year and the maximum contribution is $2400/year. To obtain information on network providers, log on to Dependent Daycare Account This plan allows you to be reimbursed for eligible dependent daycare expenses. You may carry over any unused balance to the following plan year. You have until 02/28 of the subsequent year to use up your prior year s account balance. LONG TERM DISABILITY COVERAGE OPTIONS The minimum is $120/year contribution and the maximum contribution is $5,000 (or $2,500 depending on IRS filing status). Waive Coverage You may elect to waive coverage. You will not receive benefit credits if you waive coverage. N/A 60% - after 6 months Long-Term Disability (LTD) benefits are designed to replace a certain percentage of your income if you are disabled and unable to work. Benefits continue until you recover or reach age 65 (or longer if you become disabled after age 60) as long as you meet the Plan s definition of disability. This LTD option includes payment of a retirement annuity after the disability income stops. You and the university share in the cost of the LTD benefit. Contributions are made on an after-tax basis. 65% - after 4 months Long-Term Disability (LTD) benefits are designed to replace a certain percentage of your income if you are disabled and unable to work. Benefits continue until you recover or reach age 65 (or longer if you become disabled after age 60) as long as you meet the Plan s definition of disability. You and the university share in the cost of the LTD benefit. Contributions are made on an after-tax basis.

6 EMPLOYEE LIFE INSURANCE OPTIONS 1 x annual pay 2 x annual pay 3 x annual pay 4 x annual pay 5 x annual pay 6 x annual pay UC pays for coverage in the amount of 1 x your annual pay up to a maximum of $50,000. Upon initial enrollment you may elect coverage in the amount of 1x to 6 x your annual base pay. The maximum coverage available is $1,000,000. Coverage elected in excess of $50,000 may be considered imputed income and subject to taxation. This plan includes a premium waiver provision in the event of a pre-age 60 disability, accelerated death benefit and travel assistance. Coverage is portable following separation of employment. You will pay for any coverage that exceeds $50,000. Your contributions will be made on a pretax basis. $5,000 This option provides you with $5,000 coverage - the minimal coverage permitted under the Plan. If you elect this option you will receive a benefit credit each pay. The benefit credit is considered taxable income. $50,000 This option provides you with $50,000 coverage. This is the maximum amount allowed without incurring imputed income under IRS regulations. You may need to contribute a portion of the cost of this plan if $50,000 exceeds 1 x your annual pay. Waive Coverage LIFE INSURANCE COVERAGE OPTIONS FOR FAMILY MEMBERS You may elect to waive coverage. You will not receive additional benefit credits if you waive coverage. N/A Spouse or Domestic Partner $5,000 $10,000 $25,000 The university offers life insurance coverage for your spouse or domestic partner. If your spouse/domestic partner dies while covered, the plan pays you a benefit. You are always the beneficiary for any spouse/domestic partner life insurance. Keep in mind coverage for your spouse/domestic partner cannot exceed 50% of your employee life insurance. You pay the full cost of any coverage through payroll deductions. Contributions are made on an after-tax basis.

7 Dependent Children* $2,000 $5,000 $10,000 The university offers life insurance coverage for your eligible dependent children. If a dependent child dies while covered the plan pays you a benefit. You are always the beneficiary for any dependent life insurance. Keep in mind coverage for your dependents cannot exceed 50% of your employee life insurance. *age 19 unless a full time student You pay the full cost of any coverage through payroll deductions. Contributions are made on an after-tax basis. PERSONAL ACCIDENT INSURANCE COVERAGE OPTIONS Waive Coverage You may elect to waive coverage. You will not receive additional benefit credits for waiving this coverage. N/A Employee coverage: $50,000 $100,000 $150,000 Personal Accident Insurance provides a benefit in the event you die as a result of a covered accident. This benefit will also pay a full or partial benefit for certain accidental injuries, such as the loss of eyesight or a limb. You pay the full cost of Personal Accident Insurance through payroll deductions. Contributions are made on an after-tax basis. Employee and Family coverage: $50,000 $100,000 $150,000 You may elect coverage for your family members also. If you choose family coverage, your spouse's/domestic partner s coverage will equal 50% of your benefit, and each eligible child's coverage will equal 10% of your benefit. Eligibility rules for dependents are the same as under the Dependent Child Life Insurance benefit. You pay the full cost of Personal Accident Insurance through payroll deductions. Contributions are made on an after-tax basis.

8 VISION PLAN OPTIONS Waive coverage You may elect to waive coverage. Standard Vision Plan The VSP vision plan is a materials only plan. It includes network and non-network providers. If you utilize non-network providers your costs will be higher. After a $25 individual copay lenses in glass or plastic (e.g. single vision, lined bifocal and corrective) are covered once every 12 months. The cost of frames (up to $130) is covered once every 24 months. Or you can choose contacts (covered up to $120) instead of glasses (frames and lenses) every 12 months. A separate copay up to $60 applies to contacts. Discounts on many types of lens enhancements and other services such as hearing aids and Lasik surgery are included in the Plan. A routine vision refraction exam is covered once per calendar year through an Anthem network provider if you are enrolled in a university medical plan. You will pay for the cost for this plan on a pre-tax basis. To obtain information on network providers, log on to

9 TUITION REMISSION Spouse or Domestic Partner and unmarried, dependent children of the employee This benefit becomes available the semester that begins after the first of the month following 28 days of employment. Tuition remission benefits do not include any ancillary fees (i.e., general fees, computer fees, books, or lab materials). Tuition remission does not cover late fees. With an FTE of 75% or greater, your benefits include 6 credit hours per employee per term. Additional hours are available with approval. For your spouse or domestic partner, and your unmarried, dependent children, the maximum number of credit hours available at the undergraduate level is 144, except in cases where the minimum number of credit hours required to complete a program is more than 144. The student must also demonstrate satisfactory academic progress. Your spouse or domestic partner, and your dependent children must register for graded status in all courses to receive tuition remission. If the permanent residence of your spouse, domestic partner, or dependent children is outside the State of Ohio please refer to the Office of the Registrar for potential reciprocity information: Graduate tuition remission benefits are taxable for a spouse and the dependent children of the employee. Undergraduate and Graduate tuition remission benefits are taxable for domestic partners. Graduate tuition remission benefits are taxable for the employee if more than $5,250 in a calendar year. You are taxed at the end of the term in which benefits were received. VACATION (THIS SECTION NOT APPLICABLE TO VISTING FACULTY.) Refer to Vacation Policy: SICK TIME Refer to Sick Leave policy:

10 This page provides an overview of the many and varied benefits available to UC employees. UC strives to provide a competitive benefits package and a rewarding work environment. The total benefits and compensation received by UC employees ranks favorably with many other large employers. This is just one way of showing how much we appreciate your hard work. RETIREMENT/INSURANCE: OPERS/STRS (fac.)/arp 403(b) Tax Deferred Opportunities 457 Tax Deferred Opportunities Health Care Flexible Spending Account Dependent Care Flexible Spending Account Medical Coverage Dental Coverage Vision Coverage Life/Personal Accident Insurance Long Term Disability Insurance Cafeteria Benefits Plan Castlight Healthcare Tool EDUCATION: Tuition Remission at UC UC Libraries FINANCIAL: Payroll Direct Deposit Pre-Tax Payroll Deduction for Parking Bearcat Campus Card Discounts on Entertainment, Activities, and Services UC Bookstore 15% Discount Unum Critical Illness and Accident Plans Liberty Mutual insurance discounts Sibcy Cline Real Estate program Comey Shepherd Real Estate discounts Winter Season Days WELLNESS SERVICES: Be Well UC SPECIAL SERVICES/PROGRAMS: Benefits Fair Service Awards Motorist Assistance Program Campus Shuttle Service Retirement/Financial Planning Seminars Campus Recreation Center Discount Intramural Sports/Recreation Teams Bearcat Fitness Trail Leaves of Absence College Conservatory of Music Entertainment Veteran s Upward Bound Program Nightwalk Escort Program UC Women s Center Development and Training Opportunities UC Child Care Center UC*Metro Program Bearcat sporting event discounts For additional information visit our web site at